EU launches first call for joint gas purchases

Update in Brief

The Commission has opened AggregateEU for companies to register gas purchase needs, with a one-week window until 2 May and Russian gas excluded from joint purchases. Collected volumes will be aggregated and tendered on the global market, with participating companies negotiating contracts themselves and the first purchase agreements expected before the summer; further tenders will run every two months over the next 12 months.

Trade Relevance

Member States committed to aggregate at least 15% of their national storage targets, around 13.5 billion cubic metres per year, and the scheme aims to refill storage, reduce price volatility and tackle high energy prices for energy-intensive industry. So far 76 companies have registered and 11 firms have volunteered to act as Central Buyer or Agent on Behalf.

What to Watch

Watch for aggregated tender outcomes, the first agreements expected before the summer and further bi-monthly tenders over the coming year.